Bridge Financing

OVERVIEW

Ready Capital provides short-term, non-recourse bridge and mezzanine loans nationwide on transitional, value-add and event-driven commercial and multifamily real estate. We lend up to $45 million (larger for select assets and portfolios) for middle-market and institutional commercial real estate sponsors, and larger on a case-by-case basis.

We provide floating and fixed rate terms to five years for multifamily, office, retail, industrial, mixed-use, self-storage, student housing, hospitality, residential and commercial condo, and specialty use properties. We consider the full range of value add strategies and deliver structured finance solutions backed by experienced bridge lending professionals.

Check out our most recent transactions and client testimonials:

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$18,280,000
Acquisition & Renovation
Bridge
Fractured Condominium
Year Term
Melbourne, FL
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$6,600,000
Purchase
Bridge
Office
3 Year Term
Greenwood, IN
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$22,600,000
Refinance and Stabilization
Bridge
Mixed Use
4 Year Term
Charlotte, NC
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$13,900,000
Rate/Term Refinance
Bridge
Retail
3 Year Term
Santa Monica, CA
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$4,700,000
Purchase
Bridge
Multifamily
3 Year Term
Los Angeles, CA
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$6,200,000
Purchase
Fixed rate
Retail
2 Year Term
Sacramento, CA
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$2,600,000
Rate/Term Refinance
Bridge
Retail
5 Year Term
Jacksonville, FL
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$16,200,000
Purchase
Bridge
Various Property Types - Portfolio
3 Year Term
Los Angeles, CA
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$7,500,000
Purchase
Bridge
Multifamily
3 Year Term
Houston, TX
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$11,900,000
Purchase
Fixed rate
Student Housing
3 Year Term
Normal & Champaign, IL
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$10,200,000
Purchase
Bridge
Multifamily
5 Year Term
West Valley City , UT
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$20,100,000
Purchase
Fixed rate
Mixed Use
7 Year Term
Costa Mesa, CA
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$7,950,000
Purchase
Bridge
Retail
3 Year Term
Miami, FL
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$25,800,000
Purchase
Bridge
Multifamily
3 Year Term
San Antonio , TX
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$38,900,000
Purchase
Bridge
Multifamily
3 Year Term
San Antonio, TX
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$7,900,000
Purchase
Bridge
Retail
3 Year Term
Miami (Wynwood), FL
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$28,300,000
Purchase
Bridge
Multifamily
3 Year Term
Houston , TX
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$14,500,000
Purchase
Bridge
Multifamily
3 Year Term
Portland , OR
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$7,860,000
Purchase
Bridge
Multifamily
3 Year Term
Freeport, TX
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$5,590,000
Rate/Term Refinance
Bridge
Multifamily
2 Year Term
Houston, TX
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$4,930,000
Purchase
Bridge
Retail
3 Year Term
Miami, FL
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$11,960,000
Purchase
Bridge
Office
3 Year Term
Charlotte, NC
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$8,400,000
Purchase
Bridge
Retail
3 Year Term
Charlotte, NC
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$8,900,000
Purchase
Bridge
Multifamily
2 years Year Term
Tampa, FL
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$7,570,000
Purchase
Bridge
Industrial
3 Year Term
Charlotte, NC
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$33,325,000
Rate/Term Refinance
Bridge
Office
3 Year Term
Chicago, IL
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$8,240,000
Rate/Term Refinance
Bridge
Mixed Use
3 Year Term
Los Angeles , CA
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$12,760,000
Purchase
Bridge
Multifamily
3 Year Term
San Antonio , TX
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$16,360,000
Purchase
Bridge
Multifamily
3 Year Term
San Antonio , TX
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$25,070,000
Purchase
Bridge
Mixed Use
3 Year Term
Denver, CO
$5,000,000
purchase
Bridge
Retail
2 Year Term
Los Angeles, CA
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$5,500,000
purchase
Bridge
Multifamily
3 Year Term
New York, NY
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$7,848,475
Rate/Term Refinance
Bridge
Office
3 Year Term
Chicago, IL
$1,520,361
Rate/Term Refinance
Bridge
Multifamily
2 Year Term
Philadelphia, PA
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$2,765,000
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
San Antonio, TX
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$3,200,000
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Austin, TX
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$3,450,000
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Balcones Heights, TX
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$4,300,000
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Glendale, AZ
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$5,000,000
Acquisition & Stabilization
Bridge
Industrial
Year Term
Garfield, NJ
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$5,765,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Olathe, KS
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$6,000,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Shaker Heights, OH
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$6,070,000
Acquisition & Renovation
Bridge
Industrial
Year Term
Avon, MA
$6,320,000
Acquisition, Renovation, & Stabilization
Bridge
Industrial
Year Term
Philadelphia, PA
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$6,560,000
Acquisition, Renovation, & Stabilization
Bridge
Industrial
Year Term
Greenville, SC
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$7,060,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Jeffersontown, KY
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$7,060,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Jeffersontown, KY
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$7,060,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Jeffersontown, KY
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$8,060,000
Acquisition & Stabilization
Bridge
Industrial
Year Term
Miamisburg, OH
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$8,100,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Jacksonville, FL
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$8,180,000
Acquisition & Renovation
Bridge
Industrial
Year Term
Jacksonville, FL
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$8,360,000
Refinance & Stabilization
Bridge
Multifamily
Year Term
Los Angeles, CA
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$8,515,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Dallas, TX
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$8,900,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Culver City, CA
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$8,975,000
Acquisition & Renovation
Bridge
Multifamily
Year Term
Fairfield, OH
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$8,975,000
Acquisition & Renovation
Bridge
Multifamily
Year Term
Hamilton, OH
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$9,125,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Austin, TX
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$9,190,000
Refinance, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Brewster, MA
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$9,450,000
Recapitalization & Renovation
Bridge
Multifamily
Year Term
Dallas, TX
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$10,080,000
Acquisition & Renovation
Bridge
Industrial
Year Term
Fort Worth, TX
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$10,110,000
Acquisition & Stabilization
Bridge
Multifamily
Year Term
Tallahassee, FL
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$10,680,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Des Plaines, IL
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$11,150,000
Acquisition, Renovation, & Stabilization
Bridge
Multifamily
Year Term
Tucson, AZ
CRITERIA

PRODUCT OVERVIEW

  • Transitional, value-add and event-driven real estate opportunities
  • Highly structured loan solutions
  • Financing customized to borrower business plan
  • Loan size: up to 80% of project cost, 85% senior stretch deal specific
  • Term: floating rate up to five years including extensions
  • Prepayment: minimum interest
  • Future Funding: Capex, TI/LC, earnouts, interest and operating reserves
  • Fixed and fixed/floating hybrid loan solutions
CONTACT

Contact a Production Officer or a member of our production team for more information for your area or market. All of our Production Officers have the ability to lend nationwide. If you need further information, please contact bridgecre@readycapital.com.

National Bridge Originations Team:
National Loan Originations Team:
Strategic Partnership Team:
Ready Capital Announces Strong Q1 Results for Freddie Mac Business
08/18/2021

Commercial Lender Builds on Outstanding 2020 Results

Ready Capital announced strong results for its Freddie Mac Small Balance Loan (SBL) business during the first quarter, extending into 2021 the increased volume of deals seen by the company in 2020. During the first quarter of 2021, Ready Capital closed 62 Freddie Mac SBL and small multifamily Bridge-to-Agency loans totaling $164 million in funding, with a pipeline of over $225 million. The recent quarter’s result builds on the company’s success during calendar year 2020, during which Ready Capital had closed 192 Freddie Mac SBL and small multifamily Bridge-to-Agency loans totaling $545 million in funding.

“The market demand for the Freddie Mac SBL product continued to be elevated into the first quarter of 2021 with approximately $1.4 billion in permanent and small multifamily bridge financing requests, capping off a strong 2020 despite headwinds from the pandemic,” said Anuj Gupta, President of Commercial Real Estate Lending at Ready Capital. “Furthermore approximately 71% of our production to date meets the criteria for mission-driven, affordability housing, aligning us with the long-term goals of the Agencies.”

In addition to announcing the volume of transactions, Ready Capital also highlighted the geographic diversification of the deals closed by its national lending team. During the first quarter of 2021, the company funded a significant volume of transactions in California, Illinois, Texas, and Colorado and closed additional deals in 10 more states.

 

 

 

 

Premier Transactions

Ready Capital closed $164 million during the first quarter of 2021 and $545 million during 2020 in Freddie Mac SBL and small multifamily Bridge-to-Agency loans. Individual deals ranged in size from $1 million to $7.5 million with terms ranging from 1 years to 20 years. Average LTV for the Freddie Mac SBL loans was approximately 65.

Portfolio name Number of deals in portfolio Sum of balance (millions) Notes
Portfolio 1 12 $40.0 Cash Out Refinance

Partial IO, 7 Year term

Southern California

Portfolio 2 3 $15.5 Purchase

Amortizing, 10 Year term

Chicago and suburbs

Portfolio 3 2 $4.4 Cash Out Refinance

Partial IO, 10 Year term

San Diego area

Portfolio 4 2 $2.4 Purchase

Amortizing, 10 Year term

San Diego area

Portfolio 5 2 $2.5 Purchase and Cash Out Refinance

Amortizing, 10 Year term

Greater Seattle

 

 

Large Balance Deals Balance (millions) Notes
Loan 1 $5.0 Purchase

Amortizing, 10 Year term

Arizona, very small market

Loan 2 $4.2 Purchase

Partial IO, 10 Year term

Dallas area

Loan 3 $3.5 Cash Out Refinance

Amortizing 7 Year term

Portland, Oregon region

FEATURED DEALS (Q3 2021)

Ready Capital National Bridge Lending Team highlights key real estate deals closed in the third quarter of 2021

 

Bridge Lending – Deal Highlights (Q3 2021) PDF File

CAREERS

Interested in working with one of the fastest growing commercial mortgage REIT’s in the industry?

Ready Capital is always looking to add experienced and driven professionals to expand and grow with our company. We are continually searching for experienced professionals within the industry by offering a work environment thriving on collaboration and a corporate culture of employees who are passionate and excited about what they do.

Find out what job positions are open in your area.

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